Compared to the previous two rounds, the scale and concentration of this lifting wave are larger, with "big restricted shares" as the main force, and emotional constraints may be more sustained, but the willingness to actively reduce holdings may be lower than market expectations. Institutions believe that the rebound trend of the sci-tech innovation board in this round has just passed the first half.

Looking back over the past two years, the concentrated lifting of restrictions has had a noticeable impact on the trend and rhythm of the stock prices of July's sci-tech innovation board, but the actual pressure from reduced holdings is not significant. The main driver is emotional factors, and the stock prices have also shown a "V"-shaped characteristic of rapid rebound after a sharp drop.